Wednesday, October 02, 2024

Wells Fargo Tower Sold






















The decline of downtown Sacramento and the office market is now more clear than ever. As reported by KCRA 3, Sacramento's tallest tower has sold for a steep decline, a 67% drop in value from what it was most recently sold for. The tower was originally constructed for $120 million in 1992 and sold in 2000 for $130 million. The building was later resold again to to Hines’ Core Fund in 2007 for $237,250,000 million. The 501,308-square-foot was most recently sold to an all-cash buyer for $117 million. 









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